Magna International (TSE:MG) Sets New 1-Year High - What's Next?

Key Points

• Magna International hit a new 52-week high, trading as high as C$96.51 after closing previously at C$92.85, signaling strong recent momentum in the stock.
• Analyst sentiment has improved, with Veritas and Scotiabank both upgrading the stock to Strong Buy; MarketBeat shows a consensus rating of Buy.
• The company recently reported quarterly EPS of C$1.92 and paid a quarterly dividend of C$0.495, which annualizes to a 2.1% yield.

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA hit a new 52-week high on Tuesday . The company traded as high as C$96.51 and last traded at C$96.50, with a volume of 269547 shares changing hands. The stock had previously closed at C$92.85.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Veritas upgraded Magna International to a "strong-buy" rating in a research note on Monday, May 4th. Scotiabank raised shares of Magna International from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Magna International currently has a consensus rating of "Buy".

Magna International Price Performance

The stock has a fifty day moving average price of C$90.68 and a 200-day moving average price of C$83.35. The firm has a market capitalization of C$26.23 billion, a PE ratio of 40.66, a P/E/G ratio of 0.45 and a beta of 2.13. The company has a debt-to-equity ratio of 56.24, a quick ratio of 0.83 and a current ratio of 1.22.

Magna International (TSE:MG - Get Free Report) NYSE: MGA last issued its quarterly earnings data on Friday, May 1st. The company reported C$1.92 earnings per share for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The firm had revenue of C$14.43 billion during the quarter. Sell-side analysts forecast that Magna International Inc. will post 8.8948171 EPS for the current fiscal year.

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 15th. Magna International's dividend payout ratio (DPR) is currently 82.28%.

Insider Activity

In related news, insider John Hugh Farrell sold 31,523 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of C$89.41, for a total transaction of C$2,818,471.43. Following the completion of the transaction, the insider owned 50,020 shares in the company, valued at C$4,472,288.20. The trade was a 38.66% decrease in their position. Also, insider Eric Jon Wilds Wilds sold 34,672 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of C$91.31, for a total transaction of C$3,165,900.32. Following the sale, the insider directly owned 38,756 shares of the company's stock, valued at C$3,538,810.36. The trade was a 47.22% decrease in their position. Insiders sold 150,405 shares of company stock worth $13,505,134 in the last quarter. 6.18% of the stock is currently owned by corporate insiders.

About Magna International

Magna is one of the world's largest automotive suppliers and a trusted partner to automakers in the industry's most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.

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